The enlarged TIME Group now includes the AIMS Group, one of South East Asia’s carrier neutral data centres; Global Transit Communications Sdn Bhd (GTC), a regional Internet and bandwidth provider to other telecommunication companies; and Global Transit Ltd (GTL), which holds a 10% interest in the Unity Cable System.
Speaking at the press conference after TIME’s 15th Annual General Meeting (AGM) and Extraordinary General Meeting (EGM) yesterday, Chief Executive Officer, Afzal Abdul Rahim said he expects these high-growth companies to immediately accelerate the Group’s performance in the coming years.
“We are now able to expand our business beyond Malaysia, tapping into the regional wholesale bandwidth market that serves a population of around 765 million. The acquired companies give us regional network nodes, a trans-pacific undersea cable system and an entry into the fast-growing data centre business.
“Over the past three years, TIME’s financial performance has been growing at a healthy rate. We are looking forward to adding these new businesses into the fold both in terms of contribution and business synergy, and opportunities they present.”
In a statement, TIME said it will continue to focus on its strategy of growing the Malaysian business while GTC and GTL will be geared towards tapping into the exploding regional bandwidth growth with broadband penetration and speed increases across the region.
It said that TIME shareholders approved all resolutions tabled at the company’s shareholder’s meeting held earlier in the day.